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Us 26, Dell 13, America 13, U.s. 13, Chevron 9, Washington 8, Carl Icahn 7, Nicole 7, Ashley 7, S&p 6, Viacom 5, Nicole Petallides 4, Intuit 4, At&t 4, Bulger 4, Tracy 3, Linkedin 3, Adam Shapiro 3, Phil Flynn 3, Montana 3,
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  FOX Business    Markets Now    News/Business.  
   Business news. New.  

    August 2, 2013
    1:00 - 3:01pm EDT  

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ashley: prehistoric profits. invest -- investors digging deep . we will talk to the paleontologists behind the auction. lori: from dinosaurs to chardonnet go. the social media sensation. has it? that saying. ashley: it's a bad day. lori: sharks and dinosaur bones. let's did you updated on the markets every 15 minutes. nicole petallides. so, the jobs report falling short at confusing the market. is that a fair way to put this? >> reporter: obviously everyone has high hopes for more jobs added and a lower unemployment rate, but in this case you have fewer jobs than expected added. lower unemployment rate, but that is because people basically stopped looking for jobs. very frustrated. that coupled with the fed than
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for right now people continue to think that the fed will continue the bond buying program. take a look of the nasdaq. into the greenlaw we were not looking. three points. dow and s&p pulling back. we have had a nice run, looking at each of the indices over that time, one week. a winning year, for short. major averages hitting records this week. the nasdaq at highest level since 2000, the dow and s&p hitting the highest levels ever in history. it really has been a monumental weekend. six straight weeks of gains for the dow. that is the latest. ashley: thank you very much. oil dipping lower after a week of jobs for boards, was still on track to end the week on a higher note. fox news contributor phil flynn in the trading pits of the cme. >> reporter: it is like the old days where bad news is bearish and good news as bullish. that is really what has been happening in the oil complex
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since the fed statement earlier in the week. the concerns about the lack of inflation means that the tapering is probably still farther away. it is really impacting the way that we trade oil. before the fed statement if we get good economic data we would be selling oil because we would be worried about higher interest rates were tapering. if we got bad data, of course, that means good data. today we are selling off because the jobs numbers did disappoint, so we are selling off not only on oil, but a big drop on gasoline and heating oil as well. here is a day when the data is not good and the prices are down ashley: very good. as always, thank you. >> thank you. lori: more bad news for thousands of americans looking for jobs. added to the economy last month, well below the estimate of 1,804,000. both the average workweek and earnings fell from june to july.
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however, the unemployment rate fell two tenths of 1%. that is the slowest level since december 2008. all right. joining me now for more details, breaking it down for us, carl record on us. thank you for joining us. you are looking for 200,000 payrolls added. you along with so many others expecting a stronger jobs report. what happens? why did it falls short? >> things came on the south side and there seems to be mostly coocentrated within the private service sector some of those categories seem to slow down relative to the pace of gains earlier this year. however, there were a few encouraging signs. first of all, manufacturing employment which had been negative for several months finally seems to turn a corner producing job gains last month. also earlier this week we saw that the manufacturing survey really showing some impressive gains. so maybe after a soft pass in the first half manufacturing is picking up.
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when manufacturing picks up a lot of associated industries in the service sector improved. lori: it came in strong, but they downgrade its first quarter growth. this economy is nothing to get excited about. >> well, it is not anything to get excited about, but the profile, the second quarter was faster than the first quarter. the third quarter looks like it will be significantly faster than the second quarter. absolutely not great. i do not want to whitewash this report, but things are moving in the right direction. lori: the service industry jobs. is that troublesome? >> we would like to see more high-quality high-paying jobs. however, if we look at the jobs were lost during a recession and the economic downturn they tended to be low-quality jobs which is why we saw the unemployment rate move so much higher for individuals with a
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high-school degree or even less whereas people with a higher degree of education have much less of a dislocation in the labour market. is the case of quality jobs, the first one out the door. they tend to comprise the bulk of job creation as things are covered. lori: how does that influence the debate? >> this was a perfect report to keep the mystery live. the job gains are now where we your the fed would like to see job gains for them to commence with the tapering in september. however, the chairman on the number of occasions iterative that they would like to be done with the taper of the time the unemployment rate is a 7%. we're moving in that direction. so if they want to be finished before we get 7 percent they have to start moving send. >> as we know, the unemployment rate fell because the participation rates being down.
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is this the best metric that the fed will stick with? >> one of the mentors they're watching without a doubt. lori: does it make sense? so many components to the government jobs figures that you have to look at the entire pint have a full understanding. >> you have to look at the whole picture, job creation numbers as well as the unemployment rate as well as participation rates. and again, as i mentioned, kind of moving in the right direction, not a robust pace, but it is drrfting in that direction. the participation issue is kind of fluctuating right along this low level, but it is not pointing the way that it was earlier in the cycle. this is encouraging. the corollary to the participation rate is the employment population ratio. that has been steady and starting to increase. that participation story will make a great headline now and will fade.
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lori: you are saying that it is holding steady and that is a sign of stronger days to come. thank you for joining us. >> thank you. ashley: a little bit of optimism. lori: wall street has been taking a beating. so the question is, if it is having an impact on the quality of the average record. senior correspondent and a circle of friends. there it is. our very own charlie gasparino. details. kids today. >> they have to take basic tests . series 73. this is posted. they are failing it at a higher rate, particularly at bank of america. that failure rate recently, sources inside bank of america. the failure rate of that basic test. this is like, you know, apples and oranges. very basic stuff.
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if you want to be an investment banker you have to know basic things. first-year students that come out of the best schools, steady business. the failure rate from what we have from and source -- sources inside bank of america has grown from 30% last year to 40% this year. that is huge. we have heard from other sources of other banks that the failure rates have been increasing. now, they have one year to pass before they blow you out. this is kind of an interesting trend. i can tell you that before the 2008 financial crisis wall street was the place that everyone wanted to go, the best and brightest. a place where you made a lot of money. are you kind of felt good but yourself. what we're seeing now is the reverse trend in terms of recruiting. wall street according to the statistics is not getting the best recruits. they are getting, you know, a lower tier recruit, not across the board, based on the averages. it is -- when we spoke with people, this was a very troubling thing we talked to had
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hunters. they cited reasons. banker is a dirty word. most financial crisis reform, you make less money. but all that together and people are going to technology, science, private equity. they are not on average going to wall street. we should point out that they bounce those figures of the bank of america. they said there were too high. they would not deny the trend. there would not provide us with exact numbers jeter with kind of makes me a little suspicious that they are too high. we set as high as 40. a size 35. they would not deny that trend. the trend is growing. lori: bank of america. first these results -- >> that is a good point. we don't have results for everybody. we made a lot of calls on this. we hear that the trend is across the board. but yes, bank of america is a place that has -- the stock is more than doubled.
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that said, it has been shedding assets and is one of the most bail out banks in america. it is a place right now, they just put out a regulatory filing with a face numerous regulatory probes. there is some bank of america specific stuff, but i am telling you, we understand from headhunters. read the story on foxbusiness.com. lori: this simple test so that we can resolve the questions. >> the way i understand it, this is a subsection of the series' seventh. it is this series 37 are something like that. check the story. that section is specific to investment banking, but if you know anything about the series seven, is not like becoming a certified financial analyst. kind of like basic stuff and you expect people of the business goals going into a lot -- wall street to know this stuff. we talked to dick beauvais. the 30% number is too high. the question is what they are doing in terms of recruiting and
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also training. so it is interesting. other bank of america reports. a lot of these firms give a trading timeframe. basically gave the test recently. so what you should look at this trend. they're clearly going in the wrong direction. these firms. he went. my brother has a very big resin made in medical science. he was thinking for a time, wall street, put together both his medical knowledge and -- he has a ph.d. from columbia. figure out whatu can go to a
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stocks to buy. he was never an expert witness. expert network. may be that is it. you know, that is the cut -- type of quality recruits that wall street got. ashley: not any more. >> you look at trends. you can generalize and trends. lori: fun story. thank you for bringing up to less. $13.88 per share. is that enough? he still has a lot on the table. brand new developments just ahead. ashley: weight watchers is shrinking. shares down nearly 20 percent today. lori: former apprentice star on what he is doing to get small business owners on the big stage ♪ ♪
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like carpools... polly wants to know if we can pick her up. yeah, we can makroom. yeah. [ male announcer ] ...office space. yes, we're loving this counal seatingit's great. [ male announcer ] the best thing to share? a data plan. at&t mobile share for business. one bucket of data for everyone on the plan, unlimited talk and text on smart phones. now, everyone's in the spirit of sharing.
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hey, can i borrow your boat this weekend? no. [ male announcer ] share more. save more. at&t mobile share for business. ♪ one may measure it by the thickness of its glass. the integrity of its high-strength frame. the amount of stitching in its interior. the power of i torque. or the sheer number of its safety systems... inuding collision prevention assist, standard. but the true measure is h it protects those inside of it. ♪ the 2013 m-class. from mercedes-benz. ♪ ashley: time occurred marchese's we do every 15 minutes. nyse watching weight watchers. taking a huge hit. >> reporter: quite disappointed.
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stock is down 18%. the two stories of the numbers that we watchers delivered. the second story is that david kershaw, the ceo of weight watchers has resigned effective basically immediately. the 30th of july to pursue other opportunities. the chief operating officer, james chambers, his replacement. in the meantime you have the analysts cutting price targets, such as credit suisse. they came out with numbers that were weaker than expected as far as meeting attendance, working with businesses and meeting. three mobile apps cutting into the weight watchers mobile lab. back to you. ashley: stock definitely taking it. thank you very much. lori: breaking news on bel. carl icon firing back. he reaches a new agreement with a special shareholder committee on a proposed buyout. adam shapiro, as promised.
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del headquarters in rock. >> reporter: let's give straight to the ." he is calling this an insult and says that we believe that an increase of a mere $0.13 is an insult to shareholders and promising shareholders an additional 8-cent dividend that they were already entitled to. pretending that it is some sort of gift. a further slump in the face. we also continue to believe that the special committee is improperly putting its thumb on the scale in favor of mr. bell's offer by changing the voting rules midstream and by refusing to hold a special meeting at the annual meeting in the same date. so where do we stand right now? the deal on the table expected by the special committee, $13.705 per share with a special dividend of $0.13. that is what carl calls an insult. we spoke to shareholders to said , yes, it is an insult. here is all one of them told us. >> what about the stockholders to have been invested all these years? we are losing money.
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lots of money. >> changing rules midstream bothers me a lot as a former basketball officials. you don't change rules in the middle of the game. >> that is the other issue that the shareholder upset with the fact that the special committee is changing the voting rules. someone who did not vote was counted as i know vote, and it looks like this deal would die. now those who do not vote will not be counted. it will not be counted as a no-rhodora yes-wrote disregarded which gives michael dell and silverlake a better chance . he is headed to court over this issue because changing this changes the date of record for shareholders eligible to vote. ashley: what is he trying to achieve in court? we understand from charlie gasparino, enjoying himself in the hamptons right now, with clearly as you just pointed out what does he want to to do?
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>> he wants to make sure that this does not take place, the changing of the record.@ he has been trying to get the offer price higher. he felt that the price should be around $14. when we spoke with robin really about all of this, the executive and the tech analysts and stock analysts, he told us that he would not wish carl icon on his worst enemy. that what he does is a bully people with litigation until he gets bought out. if you look at the deal as it is structured now, he almost as is $14 per share, but he is still pushing. ashley: all right. lori: thanks. ashley: far from over, as they say. lori: the u.s. postal service drowning sorrows. the new plan to update the agency. ashley: and turning small business proteges, tv personality is here, but what he is doing to help small business owners and an opportunity of a
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>> at 23 minutes after the hour i'm harris faulkner with your fox news minute the state department has now issued a travel alert warning u.s. citizens for the potential of terrorist attacks particularly in the middle east and north africa. this alert is based on information suggesting al qaeda and its affiliates are planning attacks in the region and beyond and between now and the end of august. we should mention this is part of that same warning we've been covering for about 24 hours. the state department will close certain u.s. embassies in those same areas because of what is being called today, a real threat. in boston alleged mob boss james "whitey" bulger says his raketeering and murder trial is a sham and refuses to take the stand in his own defense. bulger syracuse participating in 19 murders between 1970 and 1980. he has pleaded not guilty. the food and drug administration defined what the glut enfree label means when you
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see it on foods. until now food companies used their own discretion how much gluten they will include. now gluten-free product the must contain less than 20 parts per million of gluten. those are the headlines. i'm harris faulkner. back to ashley. ashley: harris, thank you so much. appreciate that. a small business star will be born at this year's super bowl. finance and accounting software-maker intuit is offering up a dream chance for one small business owner to win a 30 second commercial spot. we know how much those cost. it is partnering with "apprentice" winner turned small business protege bill rancic, who now fabulously joins us here in studio to tell us how all of this will work. ultimately a small business operator, one out there, will get the opportunity to have a 30 second commercial in the super bowl? >> that's right. ashley: which is worth millions. >> fully paid for and produce. so we have a major advertising agency who have done a lot of super bowl commercials in the
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past. they will produce the commercial and will be an amazing opportunity for one lucky small business owner. lori: will you get to judge? will you look at some of the contestant participants who decides -- >> i'm not going to judge but we're urging every small business or one employee up to 50, that is only guidelines, 50 employees or less. small business big game.com. once the entries end, sent 22nd, we've got 8,000 intuit employees. they will vote. they will narrow it down to the final four. then america will vote. once america votes. when we get down to the final four we'll have one winner. i'm going personally with brad smith, ceo, we'll go to four final businesses and let them know they're the winner. one business owner will get the commercial during the big game but three runner-up contestants are going to get nationally produced, nationally-run commercials as well. just not during the big game. ashley: what does intuit get out of all this. >> they're an advocate of the small business enter. they realize the value of the
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small business owner. that is the whole goal ofhi campaign. that certainly to help the one who gets the commercial and shine the light how valuable they are. they're the backbone of america. they employ more people than any other sector out there. when you look at big business that is around today, they start out as a small business. lori: right. i would say the small business is the bread and butter of intuit with their business solutions for organizationings and payroll and so forth. >> that's right. lori: having said that covering the business situation for years here, we see a challenge especially focused on small business. part of participating in this event is sort of a handbook, right? what sort of advice do the anybody struggling with a small business right now? >> we put a playbook together. we've given tips from myself and brad and all the other executives and we want to coach people along the way. that is one of the things we'll do with this competition or this campaign. we'll give business smackovers. we'll offering -- makeovers. we'll offer grants to small
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businesses. if you're a bakery, you need a new oven, we'll give you that. it is not just for the final four that will benefit. it is really a lot of different small business owners. more importantly educating the consumer out there. lettings them know, next time you're out shopping spending your dollars make sure you think about the small business owner. they're employing people in your community. they're sponsoring football teams and baseball teams. they're the heart and soul. without the small business owner we wouldn't be the greatest country in the world. ashley: that's right. they do all the hiring, majority of the hiring in this country. just had the jobs report today. disappointing. >> yeah. ashley: is this a difficult environment right now for small businesses to get off the ground and expand and flourish? >> it is difficult because they're having a hard time getting money. people who need the money unfortunately are not able to get it. they have hard time adding employees, expanding manufacturing facilities whatever they need the capital for. that is a big hurdle and also getting noticed and recognized. ashley: right. >> small business owners don't have big budgets to run ad campaigns and billboards, things
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like that. that's why we're out and going coast to coast and help enlighten people. next time they're out shopping, i sure hope they go to the local business instead of the big boy. lori: thanks for being with us. ashley: still keep in touch with mr. trump? >> kidding? i give him all the credit. if it wasn't for him i wouldn't be sitting here today. lori: 10 years it's been? >> yeah. very first winner. ashley: hard to believe, 10 years. bill rancic. thank you very much. >> appreciate it. lori: you thought the u.s. was picking up steam the economy lays an egg on the jobs report. ashley: we'll hear from small business owner john allison, why he believes regulations like obamacare are to blame for the weak jobs picture. lori: what will the hiring slump mean for the fed's tapering plans. a view from the floor straight ahead. ♪
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lori: all right. it has been 15 minutes since our last market check. let's update you with a trip to the floor of the new york stock exchange to chick in with nicole. what have you got your eyes on, nicole? >> i was looking at your chart right behind you there, lori and ashley, as we see major market averages creeping closer to the unchanged line on the dow jones industrials. the nasdaq moved into the green. that is up five points. s&p down fractionally much like the dow jones industrials but clocking in a winning week. linkedin, new high for the stock. more members. robust membership growth as we noted. they're doing well with their apps and mobile app has become very popular couple pilled with
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the website which is highly track. membership rose to 238 million. they continue to grow year-over-year and shine. what is interesting with this internet-related company is that other companies such as yelp and others in the group are doing so well. it is worth noting that intuit resource services group and yelp is a winner leading the pack. that is up since the 9th of december. look at b to b firms. market and web.com. thank you very much. ashley: thank you, nicole. we have former chairman and ceo of bb&t bank. he grew that company from a local bank with 215 employees to the 10th largest financial institution in american. john allison, president and ceo of the cato institute as well as a member of the job creators alliance. certainly you know something about jobs and john, thank you for joining us. you say you couldn't have grown
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bb&t the way you did in today's environment. you truly believe that? >> absolutely, ashley. i think if you look at these very disappointing job numbers, particularly given where we are in the economic cycle and particularly given the quality of job creation you have to look to government policy that is keeping jobs from being created. the two biggest culprits are obamacare which has many businesses afraid what their labor costs are going to be, their health care costs and dodd-frank which is way underdiscussed in terms of its negative impact of job creation. i started my career as a small business lender. i help ad lot of small businesses get in business. small business lending is a lot art and a little bit science. under the new regulatory environment the lending standards for small businesses are the tightest they have been in 40 years. it's very difficult to make judgment on small business loans and that is playing a big role in the lack of job creation in the u.s. ashley: when we talk about reform and we talk about washington we know nothing gets done. i mean at what point do you
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believe that this country really has to seriously look at its tax code and regulations on the banks and other parts of industry in order to allow these businesses to get going? it sounds great. sounds a bit of utopian. in reality, when do you think this, can happen? >> i'm hoping it will happen after the next election cycle which i hope will be a bake upcall. i think our economy will continue to sputter. we continue to have some growth but very disappointing growth. we're suboptimizing economic well-being. we're hurting low income and moderate income people which is one of the ironies. if president obama was serious about helping the middle class, the best thing he would do is repeal obamacare and dodd-frank. those are obstacles to job creation and major obstacles to economic well-being. ashley: you have to have some regulation, right? isn't there a balance? >> sure, there's a balance but you don't have to nationalize the medical system and you don't have to nationalize the banking
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system. basically banks in the u.s. are being fundamentally controlled by regulators. there is very little discretion, very little judgement, very little art left in the banking business is needed in order to foster economic growth. you can be too conservative. growth requires risk-taking. it requires entrepreneurship. and if you tighten the standards too tight, then businesses can't get the financing they need to grow. ashley: what is kind of disturbing i think in the report is the tremendous number about part-time jobs that have now been created. you know, 28.23 million. that is an all-time high. it is almost, how hard is it going to be to turn the part-time jobs back into full time? >> i think that is a big issue and obamacare is the single biggest driver for that. people are trying to figure out how to avoided their employees being in the obamacare net, so they're creating part-time jobs. the tragedy is as companies use how to earn part-time labor more
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effectively they will be less willing to create kind of jobs that result in middle income well-being. obamacare is playing a big-time role in the job creation. there is no other factor that would create that. ashley: john, thank you very much for joining us. we appreciate. >> have a great day. ashley: you too. lori: postmaster's general plan to turn around $16 billion in losses. ashley: will be called the toastmaster general. there you go. a rare find could be a big investment. we're digging deep to show you a dinosaur fossil collection could be yours. but, oh, boy, i hope you have a lot of money in the bank. ♪ [ male announcer ] how do you get your boue?
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>> here is your business brief from fox business network. the motor city looking to file its restructuring plan by the end of the year, two months ahead of the date that was proposed by bankruptcy court judge, but decisions with its creditors continue and discussions. an attorney representing detroit says there are significant difficulties that are making it hard to reach a deal. two weeks ago, detroit filed for chapter 9 protection citing debts of at least $18 billion. shares of athlon energy jumping nearly 35% on the
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company's new york city debut. pricing its initial offering at 20 buck as share. factory orders rising to a record high in june boosted by strong demand in airplanes, machinery and autos. mark the second month that autos have been at an all-time high. that is the latest from the fox business network, giving you the power to prosper.
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lori: jurassic profits. that is what bidders will be going for in this fall with a rare set of dinosaur bones hits the auction block. paleontologist is the consulting director of a natural history department and the man behind this auction. we literally yanked him off his latest dinosaur bone dig. we're so supposed to welcome him here to help us explain the value of these fossils. how they determine the value and really what the dinosaur bone market and industry is like these days.
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sir, welcome to you. this going up for auction is called the montana dueling dinosaurs piece an bonham's puts the value, expected to draw between 7 and $9 million. how do you determine that amount? >> this is probably the most significant and important dinosaur find ever in the world, for sure, in north america. and it has actually been since 2006 that they have been known of and that they have actually been offered to some of the museums around the world, but, when we look back at the previous record records selling dinosaurs such as sioux which brought in $3 million in 19 '90s and sampson in for nearly five million dollars, we start to understand there is absolute dollar value attributed to these amazing specimens. because the specimens are so important and so complete, they are the two most complete dinosaurs ever discovered in the north merge.
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just the excitement ever finding them alone for the digger is amazing. for ranchers, eventually it would be a pay day for them, it is such an important part what is happening in the economic industry of ranching alone. this actually adds to the ability of them to be handle the current finances that are involved with ranching. ashley: thomas, i have to ask you, i used to live in montana. i interviewed jack horner, curator of palentology in the museum of rockies a number about times. he is ppobably not too thrilled. he is concerned we have commercial fossil hunters out there, possibly hurting what should be in his mind a national treasure, that should be in the public trust, so to speak. how would you respond to that? >> well, i certainly have been involved in the controversies between commercialism and scientific inquiry when it comes to fossil excavation but the techniques that are being used today by commercial collectors are so far advanced from where
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they were 20 years ago and 10 years ago. i know a number about museums in the field don't do near the quality of excavation or collecting the scientific data that needs to be involved with this. the dueling dinos in montana were collected by professionals. professional commercial collectors know wwat they're doing. they collect the data. they dot mapping. i understand the naysayers and i understand certainly what mr. morner is talking about but knowing the people you're working with with and the fact that there are many commercial collectors out there trying to get to the level of professionalism that many of the people are working with today, it actually meets or, exceeds the standards of museum collection. lori: that's great to hear. i understand there was actually some skin tissue discovered with this find that is going to auction the so can you explain to us, further, thomas the relationship between the science community and the investment community and needs to make sure so that we can really understand and learn more about dinosaurs? >> the scientific aspects of
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what dinosaurs bring to, to all of us, whether it be the scientific community or to the commercial community, or to anyone that appreciates the natural beauty of nature and art as it can be presented, will realize that, when we're collecting fossils in the large plaster jackets, that it will preserve any and all of the important scientific date that -- data that is possible. what we're seeing in these dinosaurs, we have soft tissue, we have skin, that is very, very rare. there are only a few mummified dinosaurs ever have been found. in the process of working on dinosaurs, preparers started to realize and instead of preparing them out of the matrix and sell them as mounted specimens, they tried to preserve what they could for science and tried to offer the specimens to the scientific community for last few years. but ranchers and everyone involved invested hundred of thousands of dollars at some
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point. they need to see a pay day because they can't afford to support science on their budgets. lori: that is wonderful explanation. thanks for sharing this with us. thomas, get back to your dig, and check back in couple more weeks. >> i sure appreciate it. thhnk you. ashley: with the indiana jones look. you know what, the museums were offered these fossils but couldn't afford them. lori: absolutely. it is expensive to do a dig and take such great care of these pieces and beautiful to look at. >> fascinating. hopefully we'll be able to get to see them. as we do every 15 minutes let's get a check on the markets. alan valdez on the floor of the new york stock exchange. alan, what does today's job report signal to you about the fed's tapering plans? it really left it all a bit indecisive, hasn't it? >> indecisive but at the same time i don't think you will see any tapering in sent. i think with the unemployment, i think it will be a ways away. good for the market, bad for the
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economy though. ashley: the market reaction hasn't been extreme today, has it? >> i think the market is taking a little breather, if you look internally the s&p is over 1700. good psychological number. that one stock chevron based on profit. ashley: what is the next big market mover out there do you believe? >> next week we get a lot of retail numbers that will be interesting to see. consumer spending at the end of the day, this power the power t. we'll take a look at them. that will be the next mover next week. ashley: we'll sure cover that. alan, thanks very much for joining us. appreciate it. >> have a good weekend. ashley: you too. lori: $16 billion in losses last year. now the usps thinks it found a way to get back in the game by getting its drink on. ashley: guess what shocked nato, tackling the social media, setting its sights on new prey, next. ♪
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lori: it is not a bird or a plane. we're still talking about "sharknado." a movie about a shark tornado, and it is a social media sensation. here with more on the jaws appetite for this movie, very own media reporter, denise kneel. >> hey, guys. lori: what is it about the movie? >> there's a point which schlock, train wreck television goes hip and social networking helps it. the cool thing that tonight in 200 theaters around the country they're taking this grade b, maybe grade d movie and they're showing it at 200 theaters owned by regal cinemas for a midnight showing this could turn into the next "rocky horror picture show." we could have "sharknado"
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merchandise. this is train wreck television that ends up capturing the imagination or feeling for what is really terrible television. this is organic surprise. this did not happen because the sci-fi channel owned by nbc comcast i think, decided we'll do elaborate strategy. people started watching it. it was so bad they started to tweet. so they ended up with something like 400,000 online comments on twitter. 5,000 tweets per minute by end of the movie. famous people tweeting. mia farrow, joe biden's wife and lennox lewis, said, quote, can't believe the wife wants me to change the channel from "sharknado." not going to happen. that is kind of good. viewers are calling each other and going to see it t started out in the first 15 minutes of this film with 1.2 million at 9:00. ends up at 10:45. 1.6 million. look what happens they replay it. 1.9 million overall.
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finally 2.1 million. it's a phenomenon. ashley: it really is. lori: i'm moot sure people will leave their homes and pay theater costs to see this. >> here's the thing. if you can't see it again and all your friend talked about it, heard about it, maybe you would. it would be kind of a party. look what the director, the director made this film, reading a story on him. the guy had done only one sci film. it was called "boo." he said, quote, i figure five people would show up on twitter around four of them would tell me how much i sucked. instead he was totally surprised by the response. lori: it is missing a soundtrack like rocky horror. >> if they thought it would be what it was they would have done all kinds of things. there is interesting era. when a film goes from being really bad to cult film? remember "showgirls quote. it came out tin or 15 years ago, people it was so bad but people loved it. lori: magic mike. >> that is good movie. quality film. he does a great job of acting
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but on the other hand -- ashley: "sharknado." >> one of the would ever films every made, oggie loves. did not become embraced for schlock. lori: i don't know where the line nice you as film make ircan't figure it out. the people and twitter end up figuring it out. lori: you never know what will strike a nerve. >> shark-tastic. ashley: yes you are, dennis kneale. you've been here for 3,000 hours straight. thank you very much. message in a bottle? the struggling u.s. postal service looking to way cash and perhaps raising a glass. postmaster or perhaps toastmaster general patrick donahoe is eyeing alcohol deliveries for the cash-strapped agency. donahoe says the potential there is to raise as much as $50 million a year. okay, the usps loses $16 billion. at least it's something. lori: who delivered my booze now?
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ups and fedex? ashley: probably the little boy down at the supermarket. lori: i didn't realize you can't get it through the mail. ashley: apparently it never slowed you down. so that is good news. lori: wrap it up, ash. ashley: we made our point. the lackluster jobs report raising new questions about the fed's taper plans. pnc senior economist gus faucher forecasts the fed's next move. coming up next. he will join tracy byrnes and myself the next hour of fox business. with the spark cash card from capital one... boris earns unlimited rewards for his small business. can i get the smith contract, ea? thank you. that's three new paper shreers. [ boris ] put 'em on my spark card. [ garth ] boris' small business earns 2% cash back on ery pchase every day. great business deserve unlimited rewards. read back the chicken's testimony, pleleas. "buk, buk, bukka!" male announcer ] get the spark business card from capital one and earn unlimited rewards. choose 2% cash back or double miles
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>> welcome back, i'm tracy byrnes. ashley: i'm ashley webster. still waiting for a stand out jobs report. today's ho-hum numbers failing to boost stocks but the dow still on track for its 6th straight winning week. >> july jobs versus sent tapering. can the fed really start, stop, the money presses less than
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seven weeks from now? pnc chief economist gush faucher tells us how the fed will make its decision. that is coming up. ashley: michael dell could be closing in finally on buyout deal that will win. rival bidder carl icahn, don't count him out. the dell war, far from over. the latest from him straight ahead. >> it is kind of fun for him. time for stocks. nicole on the floor of the exchange. hey, nicole. we're getting there. >> tracy and ashley you're axe lieutenantly right. we're not too far from the unchanged line
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>> tech-heavy nasdaq is only of three indices with an up arrow. i think of my conversation i had with alan valdez with gme securities. if it weren't for chevron the dow would be in positive territory. the chevron is worth negative 20 dow points. came out with warnings and a tough quarter. we see that weighing on the dow. without chevron we would be positive. back to you. tracy: thanks, nicole, see you in 15. ashley: oil dipping lower after the weak jobs report but still on track to end the week higher. fox business contributor phil flynn of price futures group in the trading pits inned middle of it all at cme. phil? >> traders were disappointed with the jobs numbers. we went down. we had all the demand fears with built up with the strong economic data. when it is not that strong prices start to pull back and that's what we're seeing. we'll take it a step further but we would probably be down exempt
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for the incredible run-up we had, now the talk is maybe, that taper thing will not happen as quick ily as we think. the oil market was pushing into new lows. we got headlines from federal reserve president of the st. louis bank bullard saying you have got to be blind if you don't think we're tapering back. be talking about tapering backt until we see more strong economic data. in fact he is also talking about the inflation concerns that maybe they should have a inflation core of 1.5%. if we fall below there we have to be real aggressive. we saw a big move up on gold after that numbers. everybody who thought, heyyit is time not to worry about stimulus, you know, the dollar is going to be very strong, forget about that we're looking right now on the gold. it is down a little bit but way off the lows. and silver is up 25 cents. a big run back on precious metals as well. if the fed starts talking about pushing back the tapering, commodities will look very good next week.
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ashley: they certainly are. phil flynn of price futures group, thank you so much. >> thank you. tracy: okay, so the u.s. economy added 162,000 jobs last month. that is actually far less than the 184,000 economists were looking for. way below the 200,000 we need just to keep up but the unemployment rate fell to 7.4%, a four 1/2-year low. here to break undot numbers, gus faucher, senior economist at pnc financial services. gus, at first blush, everyone looks the unemployment rate fell to 7.4%. good news but not so much, huh? >> unemployment rate fell because we have 227,000 jobs according to household sector. payroll of businesses only rose by 162,000. mixed signals. overall it's a disappointing report however. tracy: one the big disappointments was full time versus part-time jobs created right?
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164, versus 192 part-time jobs. >> that is a concern. a lot of jobs we're creating in recent months in industry that pay below average wages and tend to be part time like retail and leisure hospitality services. a lot is the industrial mix of the jobs we're creating but we would like to see better paying full-time positions. >> weekly hours, lowest since january. that falls right in line with the part-time theory. is this all because of obamacare an increasing costs of having staff members on the payroll? >> you know, i think it is too soon to tell. you know, this has been over the past few months we've seen this full-time, part-time split. i would like to see how the data plays out. obviously the fact that the mandate has been pushed off by a year, that raises questions whether it is the affordable care act or something else involved here. tracy: do you read this? is this a blip a sign? jobless claims actually fell. i'm wondering that is really good news.
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on the other hand we get this null before. where are we in the economic recovery? >> you know, we're doing what we've been doing over the past few years. we have an economy growing at an occupation but not a great pace. we're adding jobs, enough to bring down the unemployment rate but not enough to bring it down quickly enough. so we've got growth that is okay but not fantastic. i think likely to remain that way through the rest of this year. tracy: brings us to the big question everyone has been asking today. how does this affect taper? a lot of people were puttings money on sent. does this push it off a little bit? >> this may push it off. we'll wait and see what the report says next month and what the job market looks like in august. if the unemployment rate moves up a tick as i wouldn't be surprised to see, if we see weaker job growth, then i think the fed could definitely say, look, let's hold off in mid-september. let's wait till the meeting in october. and then make a decision. on the other hand if the job market picks back up again and unemployment rate falls i think tapering is more likely.
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tracy: we had st. louis fed president james bullard suggesting to the committee, wait it out, wait for more economic data before you make a decision. i think we'll start to get some, a little conflict among the committee coming up, right? >> that's right. bullard dissented not this past meeting but the meeting before that. he was concerned about low inflation. in fact we got a reading on inflation today. that remains well below the fed's 2% target. bullard has been saying let's hold off on cutting, let's hold off on cutting back purchases until we get a bit stronger inflation. that is another factor the fed weighs when they make this decision. tracy: all the money pumped into the economy. we're not seeing results from it. what has toappen? the fed actually kind of punted it, and said it is fiscal policy now. basically washington has to get its act together. >> that is not going to happen obviously. the fed would like and chairman bernanke made a number of comments about that, that he would like more aggressive fiscal policy but on the other hand we're not going to see that i think the monetary policy is
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working. we're seeing recovery in the housing market. house prices are up at double-digit pace. general construction is doing better. i think the fed is seeing some fruits from its efforts. at some point they need to dial it back. they want to make sure a strong labor market recovery is in place and this raises questions about that. tracy: can i put you on the spot? when will the fed start tapering? >> i think they will hold off on sent and start to taper in october once we get a couple of months employment data that confirms this is temporary. tracy: gus, the market was very happy to hear that. pnc financial services. you have a great weekend. >> you too. ashley: talking about october, maybe not sent. we'll see. coming up new drama for dell. investor carl icahn vowing to fight a newly sweetened buyout offer from michael dell. we are live from dell headquarters next. tracy: plus, it is time for the august recess.
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lawmakers working out a nice exemption for themselves to obamacare. no surprise there, right? we'll tell you what they're getting out of it ahead and who is paying for it. we have to check on oil as we head out to break. it has fallen from its highs. $106.39 a barrel. we'll be right back. [ male announcer ] how do you get your bounce?
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no [ male announcer ] share more. save more. at&t mobile share for business. ♪ ashley: now for the very latest on dell. billionaire investor carl icahn slamming a new deal between a special committee of board members and michael dell over his proposed buyout of the company. adam shapiro is in round rock, texas, at dell headquarters with the latest details. adam? >> that's right. and although carl icahn says that this is actually a victory and a partial for him, that he war he says continues. he is suing dell, at least the board of directors and michael dell, the special committee in court. that hearing will take place in august. this is the deal struck for michael dell to take the company private again. we believe increase of 13 cents is insult to shareholders around
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promising i dividend we were entitled to and pretending it's a some sort after gift is a further slap in the face. we believe the special committee is improperly putting its thumb on the scales in favor of mr. dell's offer by changing the voting rules midstream and refusing to hold a special meeting and annual meeting on the same date and time. that is part of what he is suing for in court, not to allow the change in the voting rules and have the meetings at the same time. the change in the voting rules by the way up till now, someone who did not vote, would be counted as a no vote, making it difficult for dell to win his buyout offer. that has now changed. and someone who abstains from voting won't be counted at all. they will no longer be counted as a no vote. what does it all mean for carl icahn? we spoke to rob enderle who said this is part of carl icahn's strategy because he loves it essentially mug you in court. >> he doesn't have any investments anymore. he is gambling with his own wealth. he comes in with an aggressive
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position, he threatens folks if they don't go his way he wilburry them in litigation and become as big pain in the butt. invariably someone figures out a way to buy him off and goes away and mugs somebody else. >> pretty close to the share price that mr. icahn thought dell was truly valued out. bottom line, some of the holdouts, franklin mutual, big mutual fund manager will vote in favor of this deal. they originally had been against it. and they hold millions of shares of dell, roughly 60 billion under management at their hedge funds or mutual funds. they're in favor of the deal. back to you. ashley: the fight goes on, adam shapiro in texas. thank you very much. tracy: no, the war goes on you mean according to icahn. so dramatic. ashley: that's what he does. tracy: it is time to make some money. charles payne is here. america's love-hate relationship with each other continues. chars payne is here to explain why. what's going on? >> all week long we talked about
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earnings, the message from earnings -- tracy: no we talked about hot americans all week long. >> who had americans, old americans. earnings tell us the story. you know what earningsings tell us this week we're an incredible nation that we hate each other and. though passion may be strained it must not break our bond of affection. he goes on to talk about better angels of our nature n the stock market there are better angel stocks. yelp, angie's list. this stock is good. this stock is good. go to this restaurant. we believe in each other and these stocks have done incredibly well. yelp beat estimates by 75%. the stock is surging. angie's list was in line but they talk about 46% growth for the next five years. then there is that part of us, in case we're not better angels, okay? take a look at alliance tech. atk, alliant tech. tracy: i thought you were going like a pornography stock.
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>> their big business was defense, right? ashley: right. >> that started slow. we're winding down wars which was driving them big-time. they sell bullets. you know we have a ammunition shortage in this country. they sell bullets. can you imagine that? this stock is through the roof! through the roof! they sell bullets. they got two up grades. yelp got a thousand upgrades. for good measure, strum ruger beat the street 45 cents. 38% above the street. guns and bullets through the roof. listen to each other. tracy tell me about a great restaurant and in case they can't bring it to the house -- tracy: as long as government claims they will ban guns people will buy them. >> we think we need them. the reason we think at the wed people, even though i trust you for a restaurant review, i don't know what you will do when you lose your job. tracy: you're right about that. >> it is crazy thing. that's what i see in earnings. tracy: you're coming after me, so. >> wouldn't be a bad restaurant
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recommendation from you at least if it was italian. tracy: that's true. you got that. charles payne, have a great weekend. ashley: it's a quarter past the hour, time to check these markets. nicole petallides on the floor of the new york stock exchange. we go there every 15 minutes. the dow almost back to level, nicole. >> funny, every 15 minutes the dow has been improving at this point now. it is down just five and obviously a clear ability to move into the screen here in just moments. so we'll continue to watch the major averages for you as the nasdaq is one that has an up arrow. look at chevron, dow come . chevron. that is one of the reasons the dow is lower. chevron and also viacom. i'm supposed to start with viacom. here is chevron. i see it. i will just go. all right. chevron shares are drag on the dow. their earnings fell 26%. they faced higher cost, cheap oil, slim margins, not good news for chevron, down 1.7% at the moment. so this one is obviously a real
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loser today. on the other hand you have viacom, when you think of films and media, they did so well in the latest quarter, the stock is up 6%. it has moved to all-time record highs. it's a winner, up almost 50% this year. the revenue numbers did beat street. the earnings missed. they have improved ratings in addition to doubling their share buyback program. so you certainly have a lot going on with viacom. as a esult for this media and film company doing really well and clocking in some record highs. back to you. ashley: all right, nicole, thank you very much. we'll check back at the bottom of the hour. tracy: so urgent call for corporate tax reform. is that what the economy needs to start growing? we're going to find out next. ashley: but first, let's have a look how the u.s. dollar is moving right now. for the most part the dollar is weak. only the canadian dollar moving lower but the euro and pound, getting more expensive to go to europe, tracy. we'll be right back.
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>> 21 minutes past the hour i'm lauren green with your fox news minute. the state department has issued a global travel alert warning u.s. citizens about the potential for terrorist attacks particularly in the middle east and north africa. the alert is based on
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information suggesting al qaeda and its affiliates are planning attacks in the region and beyond between now and the end of august. samantha power has been sworn in as the new u.s. ambassador to the united nations. she was advisor to president obama and assistant to susan rice. james "whitey" bulger says his racketeering and murder trial is a sham and refusing to take the witness stand in his own defense. bulger is accused of participating in 19 murders in the 1970s and 1980s and pleaded not guilty. those are the headlines. i'm lauren green. ashley: lauren, thank you very much. appreciate that. our nix guest says it is clear we can not grow our way out of recession and government action is needed. ogordan gray from the american action forum.
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thanks for being here. what does the latest jobs report tell you and what do we get from isn't. >> numbers came in lower than expectation and underlying numbers were disappointing. wages are down. hours are down. we have downward revisions. to be sure as many observed this could be a aberration and a broader trend after recovery but it also, i think dovetails well with the understanding this is the new normal, a tepid recovery. ashley: how do we get it to fire up? what do we need? >> absolutely. think what we first don't need is the kind of tinkering that we saw at the beginning of this administration, the first, the stimulus. then another stimulus. then state and local bailouts in ad hock fashion. instead what we need are the type of structural reforms that have unambiguously strong growth effects. i think immigration reform should be considered but also a
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fundamental tax reform. those are, you know, those are things that are before the congress right now. in particular on tax reform. you have two committee chairman of different parties, and different houses of congress, working in good faith on tax reform and i think they're to be commended for that and what they, i don't think they deserve is a president and certain party leaders parachuting in and trying to throw cold water on what is the type of bipartisan effort that i think the nation needs. ashley: yeah. but tax reform is not the panacea. the e.u. certainly reformed a lost their tax laws but, you know, unemployment is still a big issue there? >> of course. i think it is, it is worth pointing out i don't think no single policy in a 16 trillion-dollar economy can ever be viewed as a panacea butn observation that's been made recently, much like, much like a baseball runner. if you have a guy that, two guys
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that run to first at the same speed, one guy is good form, one guy is bad form. you take the guy with bad form because you can coach them. in europe if they reform the tax code and have bad economics versus the united states where we have unreformed tax code and bad economics i would bet on the united states on tax reform to improve the situation. ashley: president obama is going around the country touting his economic plans. part of that is repatriating all these overseas dollars, $2 trillion overseas. will companies, can something be done to have these companies who obviously enjoy much better tax rates overseas, bringing that money back? should it be more than just a one-time, you know, repatriation break if you would like, because that money could do a lot of good in this country? >> i think that fundamental tax reform that includes a move towards a territorial system that i think aligns more
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favorably with our trading partners would be a good thing. i think you would have, you see a lot of incentives to bring money back that is otherwise parked offshore but also make u.s. companies more competitive abroad. 95% of the world's customers are outside of our borders. ashley: yeah. >> we shouldn't do anything to disadvantage u.s. companies abroad. and, i think, that is the permanent long-term solution. i'm very disappointed in the idea of a repatriation holiday that is then turned around and spent, you know, run through the department of transportation, much like stimulus. there is, there is evidence that repatriation holidays can have good growth effects. ashley: right. >> in fact i recently worked on a paper on this with doug holtz-eakin and laura tyson has looked at this but i'm very disappointed when you see, i think the, that notion hijacked with more spending policies.
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ashley: right. >> frankly have disappointed of late. ashley: yeah. and there is lies the debate going on in washington as we speak. gordon gray, with the american action forum. thanks so much for joining us. >> thank you for having me. tracy: we keep debating it though. nobody is doing anything. ashley: that is the problem. no action. tracy: speaking of no action, a blackout, a deadline is coming up in the fee fight between cbs and time warner cable. cbs goes dark in more than three million homes at 5:00 eastern time today unless of course is the two tv titans can agree how much of a fee increase cbs deserves. the deadline has been extended a number of times since the previous deal expired on june 30th. time warner cable customers also stand to loose access to showtime which is owned by cbs. shares of the two companies are trading down. time warner cable a little more so than cbs, but man they keep coming close and can't decide. maybe we'll extend the deadline. almost like a little bit of a
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joke now. ashley: going on and on. just get an agreement. tracy: exactly. ashley: today's jobs reports raising new questions about when the fed will really start tape everying its stimulus. stifel-nicolaus portfolio manager kev vain can rohn how wall street is reading the tea leaves. tracy: how about that. as we go to break take a look at some of the winners and losers on the s&p 500. we were talking about with viacom with nicole earlier, up 6%. we'll be right back.
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♪ tracy: 90 minutes until the close. nicole petallides on the floor of the exchange. are we going to turn green before the end of the day, nicole? >> reporter: maybe.
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as solid may be. let's take a look at linkedin. that is something i am following very closely. they continue to do very well, tracy and ashley, continuing to add more members, growing at the fastest pace in nearly two years. the stock has soared to an all-time high. again up over 11 percent today on these quarterly numbers, and several firms continue raise their price targets on this one for rf -- for example, counter fitzgerald put a buy rating. there is your nice 3-year chart published back in 2011. at one point it was about $55. if you bought this in the $50 or a dollar or $150 range, you are still celebrating at this point. this particular name. so in addition to linkedin, yelp and some other test companies. the internet overall today continuing to do very well. linkedin is one of the main reasons. tracy: thank you. we will see you at the top of the hour. ashley: so the july jobs report
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raising some serious new questions about the state of our economy. senior washington correspondent peter barnes reports from the white house. >> reporter: well, hello. the course of -- pace of payroll job creation slowed for july according to labor depart. and players added 162,000 non for in payroll jobs last month. about 20,000 fewer than expected . and there were down more revisions to may and june. the economy created 26,000 fewer jobs in those months than previously reported by the labor department. the unemployment rate fell to just under seven and a half percent. that drop was bigger than expected and is the lowest rate since december of 2008. it was, in part, because of the job gains, but also because the labor force shrank by about 40,000 jobs. let's take a look at where the jobs were created last month. once again, concentrated in the service sector.
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retail added 47,000. business and professional services up 36,000. leisure and hospitality of 23,000. finance and real-estate up 15,000. the white house used the report today to push republicans to support the president's latest job proposal, which is to up get congress to approve funding for infrastructure and other stimulus programs in exchange for his support of corporate tax reform. take a lesson. >> a number of steps that congress could take. most importantly, they should not take steps backward. they should not should themselves in the foot by having shut down over the budget or worse yet be unthinkable, another fight over the debt limit. >> but, as you can imagine, republicans were not too keen on this response. the speaker of the house said in a statement, nearly five years of aggressive intervention by
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washington. the stimulus era of excess of spending, excessive red tape, and abuse by a disease like the irs has left our economy treading water with slow growth, high unemployment, and stagnant wages. he suggested that the president should support republican jobs proposals. ashley, back to you. ashley: that is not going to happen. peter barnes, thank you so much. breaking news for you. ninety-five -- $106, $0.94 per barrel. today's close lower, snapping two straight days of gains for crude. tracy: so, it's barely reacting to this more -- this mornings disappointing jobs report. our next guest is surprised. we are still on the upward trend for job growth. joining us, kevin curran, portfolio manager. we are on an upward trend, but we are behind april. we really need 200,000 jobs a month to keep up.
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>> well, you do need to hundred thousand jobs per month, but imagine this, i imagine a scenario where we saw a contraction in the job market. you could have contraction in manufacturing. we don't see that. as a matter of fact, i year ago or even six months ago you had folks were walking around saying that, we're going to have this fiscal cliff. polemist pending. the economy will crater, but here we are made year. it is exactly what is happening, but the economy is doing well. investment spending was running at about nine, 10 percent rate. that handoff between government and the test, government spending, and what's going on in the private sector i think is very constructive. tracy: it depends on how you looked at the glass, half full, half-empty. we will take glass half full because it's friday in the sons out. now we have to move on to tapering. if you don't think these numbers are good, that would build a case for tapering in september. that is not what the bond market is saying.
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>> aiden said there were good. i said they were -- i said there were okay, they were on trend. they did not miss either way in a meaningful way. 100,000 jobs of consensus on either side. then you have a change in outlook, but this is right, basically, down the middle. sibila loss, but no big deal. this doesn't change the outlook. the economy's getting better. the fed will have to take some taper back a little bet some point, but the fed is doing a masterful job in maintaining the money supply us through what has arguably been one of the biggest financial crisis we have seen the last hundred years. i think that ultimately a very, very, very easy money, the decline to balance sheets, it is not sustainable or something they want to see. i was anticipating the next couple of years as long as the economy keeps moving forward as it is that the fed has to taper and eventually raise interest rates. tracy: but we were originally talking about september. you still see that in the cards?
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we talked earlier about the same louis fed president saying the committee really should wait for more economic data. is september still on the table as far as the taper timeline? >> i guess it is possible. i don't think that the -- i don't know that the actual timing, whether it is september or later in the year really matters all that much. ultimately what really matters is earnings overlong amount of time. and ultimately it will drive earnings from here. has to be a pickup in investments. that's why i'm focused less on the taper and more on what is happening with the private sector investment. i'm glad to see it we're seeing a pickup in investment spending in the second quarter. tracy: i hope more and more investors start looking at the fundamentals. thank you for being here on friday. >> thank you. ashley: obamacare exemption on capitol hill. members of congress and their staffers are working out a last-minute deal. jerry on the story.
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should be here next he. tracy: in your ten year, down ten basis points. your 30-year moving down as well. down six basis points. we will be right back. (announcer) scottrade knows our clients trade and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. voted "best investment services company."
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ashley: capitol hill getting a
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health care fake says members of congress from both sides of the aisle fearing that obamacare would send their aides backing out of their looking for more lucr. interesting. >> can you believe that they expect tested take obamacare down. when it comes to then there will have no part of it. the government will continue to a face a 75% of the premium payments. they do not qualify for the house for the obamacare exchanges. the government will help them out i don't understand. tracy: sell it to the american people. >> its august 2nd. it's a friday. it's afternoon. they're trying to hide it. they're trying to get away with this. i think you are absolutely right. most people find this entirely unacceptable costs. what is good for us to be good for our legislators and the people who work for them, but let me tell you, those congressman out there are adamant that this happened.
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out there pounding the table with the people that work for them. tracy: out the change that? we can talk about this six ways still tuesday. there the ones that make the decisions. if they decide they decide. >> just like they did on obamacare without reading any of it. ashley: shouldn't they get a clue from this reaction? ,. >> you have to wonder. they are on this network. a lot of people aren't. all the people aren't paying attention. a lot of people are on vacation. tracy: i hope people remember this stuff when they go to the polls. >> they should. more stuff coming tonight. choosing a wireless plan. you are going back to school, getting a new phone, maybe a new job. and the sales tax holiday starts this week. the best way to take advantage of sales. tracy: getting in a car crossing the border. >> we will tell you. ashley: the cost of gasoline these days.
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tracy: that is good stuff. >> fun, fun, fun. tracy: she will be there with all of this tonight at 6:00 and 9:00 eastern right here on the fox business network. ashley: thank you. tracy: all right. it is a quarter till. time for stocks, as we do every 15 minutes. nicole petallides down on the floor of the exchange. hello. >> reporter: hello, tracy and ashley. taking in as we approached the closing bell in about an hour and 15 minutes. a busy week on wall street and certainly a winning one at that. the news has not been stellar. we have seen them news creeping a bit by bit, much like what we have seen from the dow jones industrials working their way closer and closer back to the unchanged line. the last friday we closed 15 allows 558. we are easily clocking a winning week on wall street which would make it six straight weeks of gains for the dow jones industrial. this is been a monumental week. we have hit record all-time intraday highs for both the dow and the s&p.
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people don't seem to be moving and saying, hey, i am ready to short the market. on the contrary, they still seem to be either comfortable taking profits were setting a to go along. i wanted to quickly take a look here at some of the other names we're watching. tracy: a, you are on green mountain. >> reporter: charging. the sec is charging a former employee and a friend with insider trading. what is interesting about this collier is that you are not seeing the start reacting too much. but the quotes are that all indication is that the case involves an irresponsible individual acting alone, this obviously will continue to be followed. no allegation of wrongdoing on behalf of the company. there are names year. mcginnis was the manager level member of the company and apartment and has been terminated. this will be an ongoing. it is breaking as we are moving, but it is a $7 million
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insider-trading scheme. charging a former green mountain coffee employee and friend in a $7 million insider trading scheme. the stock is down 1/3 of 1%. actium. ashley: mild accounts individuals acting irresponsibly . allowed. it has already been let go. tracy: the company can stay at the news. ashley: no kidding. well, from coffee to yogurt, powered by yogurt. some communities are getting an electric jolt from the hardest -- hottest new food fad. tracy: outtake my greek yogurt. ashley: first, let's take a look and some of the winners and losers on the nasdaq, as we head up to break. talking about viacom mandel. carl icahn declaring war. still up over 5%. we will be right back. ♪ any last requests mr. baldwin?
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tracy: so, the july unemployment rate falling. but san francisco fed says it could be a lot lower if there was proper leaders in washington. those are fighting words. jeff flock in late in the hills illinois with a business owner who, like many, like to see better policy. >> reporter: he said it would make life so much easier. material that will be coated with teflon. that is what they do with this company. bill lewis is the founder and runs this company. you said -- you agree -- we heard that from the san francisco fed. just a you know what we're talking about, take a look at those numbers. the unemployment rate and if you
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had leaders in washington. this jibes of hard you think. >> absolutely. if we had those leaders the numbers would be much further down. >> reporter: this is teflon-coated material. this is a basket that they used at dunkin donuts. >> the uses that. that's right. the use that to cook their morning cent which is in. >> reporter: you are back hiring again, but nowhere near at the level that you would be hiring if you feel like you had. and what we talking about? what do you want from washington? >> i want leaders. i want a sense of direction that the country will know when to create jobs and to be able to have small businesses have the wherewithal to create jobs. >> reporter: one of the bright spots was manufacturing, what you do here, but you are not hiring at the level you would if you had that kind of -- a sense that things were heading in the right direction. >> if we had a sense of security, heading in the right
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direction, we would truly be putting our part-time people on full-time. we still have to hire part-time people because we are just not convinced that this economy is going to be getting in the right direction. >> reporter: some of the administration now, what would he say? >> give us some sense of direction. we needed to produce small businesses needed. we don't need the regulations that you are throwing upon us. we need to be able to create jobs for people. >> reporter: create a lot of jobs. loves to give voice to the small and medium-sized. about 100 employees, small and medium-sized businesses of this country. you are it. tracy: if anyone can it is you. thank you. wonderful. ashley: alternative energy just got all lot tastier. upstate new york power plants are choosing greek yogurt as
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their full -- fuel of choice. we have more on this. >> reporter: well, it is no secret that greek yogurt, a bum in upstate new york and certainly these companies cannot make it fast enough to satisfy consumers, it seems. right now it is a $3 billion industry. just last year alone agree to cover sales in the u.s. rose by 48%. check it out. >> it turns out pre cure rate is not only get for you, but its watery by product -- by product is the source of electrical power. >> generate around 350 kilowatts of power. >> reporter: an expert at converting waste into energy. at the johnstown waste-water plan he has hired an underground , just 3,000 feet3 away. combined to make a potent makes which fees bacteria inside a one-and-a-half million gallon
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tank called an arabic digester, acting like a giant stomach. >> millions of an aerobic bacteria that feast on a. it eats the material, and it converts the material into methane. >> reporter: these internal combustion engines produce electricity, which the water treatment plant uses, saving it and have million dollars per year. the more wary the plant gets from your producers, the more energy it can churn out. happy to have a claim of the disposing 72 dozen gallons per day. >> very cost-effective way for us to responsibly used the way that is created in the process. tracy: something we will be hearing more about in the coming years as, of course, production goes up and leave more power from it. crazy. we were just saying, who thought of mixing sludge and yogurt. what do you know, power.
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ashley: someone has a lot of time on their hands. tracy: that means they have to make a lot more. >> more is being made. there is so much by products coming off of this production that the company, the waste water plan actually has to burn off the methane. they cannot even contain it. they're looking at more substations to possibly and start putting the power on the grade for next year for sale to consumers. ashley: for detail, oil. tracy: your greets yogurt. only way. ashley: thank you very much. tracy: crazy. all right. well, the dow is trying so hard to go green. liz claman will take you through this last hour. any idea what these two items have in common? believe it or not, the same founder and the fact that there are both considered tech startups. the man who went from flipping video into big profits to flipping exotic teas mo.
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and don't get heartburn in the first place. [ male announcer ] one pill each morning. 24 hours. zero heartburn. liz: the jobs puzzled. the unemployment rate drops to the lowest in four years. will the fed do next? what should be invested do next? we will give you some answers. the market caps. is to will mellow error of the innovation crown? and what can and should apple juice to regain the wow factor. top tech watchers. then flipping through. ed believe they're not, this entrepreneur has done both. the latest tech startups is all about making dough from cheese. by the silicon valley mey

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